ROCKVILLE, Md., Jan. 22, 2018 /PRNewswire/ — A major deal between Novartis subsidiary Sandoz and Bangalore, India-based biosimilar player Biocon confirms the rise of these close copies of biodrug major brands, according to New York City-based healthcare market research firm Kalorama Information. According to media reports, the two companies will develop and bring to market "multiple biosimilars in immunology and oncology" that will "address the next wave of biosimilar opportunities globally." Kalorama estimates that the global market for biosimilar products has grown to be worth almost $4.4 billion according to its new report, Biosimilars: Global Market, Trends and Competitor Analysis.
"It's a signal that it's time for pharmaceutical companies to take biosimilars seriously, if they weren't before" said Bruce Carlson, Publisher of Kalorama Information. "Biocon is an expert with knowledge in the area and Sandoz is showing leadership, many major biopharma brands could be targets."
Biopharmaceuticals are synthetic or recombinant versions of natural biologic substances, including proteins such as enzymes or antibodies, and nucleic acids such as DNA or RNA. Generic products are non-patented chemical and therapeutic equivalents of brand name drugs. However, biosimilars are not generic biologics because there can be no generic form of biologics due to the complex process of creating biologics. The worldwide prescription generic drug market has stood the test of time and has endured numerous growing pains. However, it has evolved into a formidable and important participant in the complex world of health care. Generic drugs continue to represent one of the greatest values in healthcare and are of great importance in the area of biopharmaceuticals as well because these products are among the most expensive treatments currently on the market. Generic drug manufacturers are poised for strong growth in the future because the patent protection for a host of major biopharmaceuticals will expire and new legislative reforms in the generic drug approval process are facilitating bringing products to market. While there are many issues to address, the outlook for biosimilar promotion is favorable in the next five years.
Biocon Ltd. is an Indian-based pharmaceutical company that was founded by Kiran Mazumdar-Shaw in 1978. The company is involved in the manufacture, processing, distilling, formulating, and marketing of biotechnology products. Today, Biocon is one of India's premier biotechnology companies, along with its subsidiary companies, Syngene International and Clinigene International. The company launched its flagship product, Insugen, using Pichia expression, in 2004 and India's first indigenously developed monoclonal antibody for head and neck cancer, BioMAb EGFR. The company has eight subsidiaries and two step down subsidiaries. Biocon FZ, LLC is a wholly owned subsidiary that was incorporated in June 2015. Biocon Biologics Limited was incorporated in the UK in 2016. Biocon Pharma was incorporated in 2015 in the United States.
However there are several other companies in the market – Kalorama's Biosimilars: Global Market and Trend Analysiscontains information on scores of companies in biosimilars, which drugs may be most affected, and what companies are doing.
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SOURCE Kalorama Information